Errors and Omissions (E&O) insurance for real estate professionals is very much like medical malpractice insurance is for those in the medical field. It provides protection for your interests when mistakes are made or omissions occur.
In the real estate industry, this can include a wide range of mistakes that may include many of the following, depending on your specific policy:
- failure to disclose (things like mold, notoriety of home, ghost stories, etc.)
- lockbox-related bodily injury or damage claims
- damage to property caused during open house
- fair housing discrimination
- and other elements that are important to professionals in the real estate industry.